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98
Nov 29, 2012
11/12
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CSPAN2
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now, you talk about a fiscal cliff now? think about the cliff that members of congress are going to face because we didn't do our job in addressing this issue when the solutions were there in a relatively clear glide path that would be relatively unnoticed in most households. this is what will happen: there would be a 25% automatic cut to the retirement payments and the disability payments now going out in social security. that would be an average of $308 per month. now, the social security trustees put it straight out there. they said, they have two ideas to shore up social security right now. one is to immediately and permanently increase the combined payroll tax on employees and employers from 12.4% to 15%. so that would be a one-fifth increase in the payroll taxes that are in the norm being paid today. the other alternative they suggested is to cut core benefits right now. $200 per month they said would do it. $200 per month cuts in social security checks. i don't believe anybody believes that is feasible or desirable,
now, you talk about a fiscal cliff now? think about the cliff that members of congress are going to face because we didn't do our job in addressing this issue when the solutions were there in a relatively clear glide path that would be relatively unnoticed in most households. this is what will happen: there would be a 25% automatic cut to the retirement payments and the disability payments now going out in social security. that would be an average of $308 per month. now, the social security...
96
96
Dec 4, 2012
12/12
by
CSPAN2
tv
eye 96
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we are talking about the patch about the 2012 taxable year, and unlike the fiscal cliff that affects tax rates that apply next year, the patch applies to the return that we will all have to file early next year. if there is not congressional action here, there is the abrupt increase in tax on the 2012 taxable year under -- in 2011, approximately 4 million people paid the amt. if there's not a patch, 30 # million people will be required to pay in 2012, and for the current taxable year, and they will pay app additional $90 billion in tax. none of them -- few of them have any idea that this is on the table. >> host: is the isr prepared? >> guest: the irs took a fairly unusual, but i think correct position, taking the position that congress will do the responsible thing so they did their tax programming for next year for the 2012 return, assuming congress would enact the patch before the end of the year. if -- i think that was the reasonable thing to do because almost -- even i believe they will do that -- however, it does mean if there's not a patch, the tax return filing season next ye
we are talking about the patch about the 2012 taxable year, and unlike the fiscal cliff that affects tax rates that apply next year, the patch applies to the return that we will all have to file early next year. if there is not congressional action here, there is the abrupt increase in tax on the 2012 taxable year under -- in 2011, approximately 4 million people paid the amt. if there's not a patch, 30 # million people will be required to pay in 2012, and for the current taxable year, and they...
61
61
Dec 4, 2012
12/12
by
CSPAN2
tv
eye 61
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he also talked about the fiscal cliff negotiations and peace in the middle east. >> is everyone okay with that? [inaudible conversations] [laughter] we are talking about what extent a middle-class tax breaks for me to middle-class families. today at 2:00 p.m., people can ask the president questions on twitter with the hash tag my 2k. after that, this come in this afternoon from the president has a bilateral meeting with the prime minister of bulgaria and this is an important relationship with bulgaria. the president will deliver a speech about 4:00 p.m. commemorating the 20th anniversary of the threat reduction program, which as you know, was authored by richard lugar. it has resulted in a regime that allows us to achieve our the president's highest priorities, and that is to secure safety around the world. it is important have to remember that when it comes to these kinds of objectives, democrats and republicans, we can come together and see very important things come and the president looks forward to this. we also want you extend our congratulations to the duke and duchess of came
he also talked about the fiscal cliff negotiations and peace in the middle east. >> is everyone okay with that? [inaudible conversations] [laughter] we are talking about what extent a middle-class tax breaks for me to middle-class families. today at 2:00 p.m., people can ask the president questions on twitter with the hash tag my 2k. after that, this come in this afternoon from the president has a bilateral meeting with the prime minister of bulgaria and this is an important relationship...
137
137
Dec 6, 2012
12/12
by
CSPAN2
tv
eye 137
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quote 1
i rise today to talk about the fiscal cliff that this country faces on january 1. we're now beyond the point four weeks after the election and now four weeks before the date of the fiscal cliff, and as republicans have been pointing out on this floor, mr. president, congress must act soon to take on the numerous expiring tax provisions and the sequester. and i believe president obama must provide leadership in those efforts. i've seen very little so far. last week i came to the floor to speak about the fiscal cliff and some of the concerns that i continue to have and hear about as i travel to wyoming just about every weekend. just got back from there a few days ago, and people are very concerned about the direction of the country and what may happen to all americans on january 1. last week on the floor i spoke about the president's proposal to raise taxes on people making more than $200,000 a year. in terms of spending next year, that tax increase would pay for just 6.8 days of what washington will spend. so the whole proposal that the president continues to make i
i rise today to talk about the fiscal cliff that this country faces on january 1. we're now beyond the point four weeks after the election and now four weeks before the date of the fiscal cliff, and as republicans have been pointing out on this floor, mr. president, congress must act soon to take on the numerous expiring tax provisions and the sequester. and i believe president obama must provide leadership in those efforts. i've seen very little so far. last week i came to the floor to speak...
130
130
Dec 5, 2012
12/12
by
CSPAN2
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eye 130
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that would spare the american people from the consequences of going over the fiscal cliff. and, madam president, i've only been here 36 years, but i've seen every president willing to meet on a regular basis at budget-crunch time with people on both sides of the table over and over and over again until they gradually whittle it down to where they agree. i haven't seen that with president obama. i've seen heard democrats complain that he never talks to them. we cannot do this kind of work without very, very strong presidential effort. that's what presidents are for. and it can't just be laying down a gauntlet sand say, you can't -- and say, you can't cross over that, or drawing a line in the sand. we need -- you got two programs now. and those two sides need to get together. and that includes the president and whatever democrats he cares to put in the equation and also speaker boehner, leader mcconnell, and others. as we attempt to reach a meaningful resolution of this debate in the coming weeks, there are three guideposts that i will keep in sight. first is the cliff itself
that would spare the american people from the consequences of going over the fiscal cliff. and, madam president, i've only been here 36 years, but i've seen every president willing to meet on a regular basis at budget-crunch time with people on both sides of the table over and over and over again until they gradually whittle it down to where they agree. i haven't seen that with president obama. i've seen heard democrats complain that he never talks to them. we cannot do this kind of work...